Retirement Plan 2000
RETIREMENT PLANNING
It is important to note that, before beginning the retirement planning process, you must have established a sufficient emergency fund and have taken the recommended risk management measures to provide protection from unforeseen circumstances. Only then, with this security in place, should you begin the retirement planning process.
The purpose of personal financial planning is to help clients achieve their goals by using a satisfactory mix of an emergency fund (3-6 months of fixed and variable expenses), insurance coverage, savings plans, investments, tax-saving strategies, retirement and employee benefit plans, and estate planning techniques. Important planning issues include gathering adequate data, assessing client risk tolerance, complying with regulatory requirements and ethical guidelines, matching planning strategies and investment products to the client's total situation, and monitoring all circumstances affecting the client's personal financial plan.
New rules for IRA required minimum distribution will allow your IRA account to last longer and will give you more freedom to switch beneficiaries.�
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